[JURIST] The US Supreme Court [judicial website] ruled [opinion, PDF] 5-4 on Thursday that employee stock options given to railroad workers were not taxable under the Railroad Retirement Tax Act of 1937 [text] because employee stock options are not money.
Under the act, only “compensation” was taxed, in order to exclude the food and lodging that railroads typically provided employees in the 1930s. “Compensation” was defined as “any form of money renumeration.”
